Social Security still remains one of the biggest problem in the United states.
All attempts for it’s reforming have failed.Take a look what happened now.
According to Patriot Journal:
Social Security as a program was first created back in 1935 from president Roosevelt. It was originaly meant to alleviate the problems most Americans face when they reach retirement age. All attempts for it’s reforming in the past have failed and meanwhile more and more Americans are retiring which makes big problem to the program.
CNS News reporeted:
In fiscal 2017, real Social Security Administration spending topped $1 trillion for the first time, according data published in the Monthly Treasury Statement.
The Social Security Administration spent a total $1,000,812,000,000 in fiscal 2017, according to the Treasury.
That was about 37 times as much as the Department of State spent during the year ($27,061,000,000), 32 times as much as the Department of Justice ($30,977,000,000), and 20 times as much as the Department of Homeland Security ($50,502,000,000)…
In a statement to CNSNews.com, the Social Security Administration acknowledged that the combined spending for the Social Security program (Old Age and Survivors Insurance and Disability Insurance) and the Supplemental Security Income program did exceed $1 trillion in fiscal 2017, but that spending for the Social Security program alone did not reach that level during the year. SSA noted that its latest trustees report projects that spending on the Social Security program alone will top $1 trillion in fiscal 2019.
Under Obama’s Administration the payout increases slowed a lot, which makes us wonder what was happening then.
Many Americans payed on this program just to ensure their life when they retire. Kind of security for the old age. The Government is actually really good when spending money that belongs to someone else, and that leads many people to consider whether they get what they paid for.
Remains to see will the Social Security get their money back.
Scroll down to the comment section and tell us what you think.
Featured Image Source. HT: Patriot Journal.